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Cryptocurrencies aiming for next milestones

Cryptocurrencies aiming for next milestones

GrafaGrafa2024/11/16 06:00
By:Liezl Gambe

XRP (CRYPTO:XRP) is on the verge of a significant milestone, aiming for $1 amidst a surge in trading volume and strong buying momentum. 

Recent price movements show XRP climbing steadily from $0.50 to $0.88, driven by robust demand and investor enthusiasm.

A sharp increase in volume suggests strong market activity, but the RSI, currently above 89, indicates overbought conditions, hinting at a potential pullback.

Key resistance at $0.90 could pave the way for a breakout toward $1, a psychological barrier with historical significance.

If momentum falters, XRP might retrace to test support levels at $0.70 or even $0.60, where it needs to consolidate for future growth.

Shiba Inu (CRYPTO:SHIB) witnessed a remarkable trading volume of 37 trillion SHIB, signaling heightened market interest and activity.

This spike often reflects the involvement of "whales" – large-scale investors either accumulating or offloading substantial holdings.

High trading volume typically boosts liquidity, stabilising short-term price fluctuations while laying the groundwork for possible rallies.

SHIB recently peaked at $0.000032 but faced resistance, slightly pulling back as technical indicators suggest waning momentum.

To maintain its upward trajectory, SHIB needs consistent buying volume, especially from retail traders following whale activity.

If SHIB breaks past the $0.000028 mark, new highs may be within reach. Otherwise, consolidation or a dip could be on the cards if volume normalises.

Solana’s (CRYPTO:SOL) recent performance shows a steady rise, breaking through the $200 barrier and drawing attention to its potential for reaching $300.

The uptrend is backed by strong buying volume and crucial support from moving averages like the 50-day and 100-day EMAs.

SOL recently converted a resistance level near $170 into solid support, reflecting strong buyer confidence.

The RSI, currently around 67, indicates room for further growth before entering overbought territory.

Immediate resistance at $225 stands as the next challenge.

A break above could send SOL toward $250.

With bullish momentum holding, Solana might test the $300 milestone in the coming weeks, provided market conditions stay favorable.

XRP needs to break $0.90 and sustain buying interest to hit $1, though overbought signals suggest caution.

SHIB's massive trading volume hints at strong market sentiment, but sustained interest from both whales and retail traders is crucial for another rally.

Solana is poised for further growth, with $225 as the next hurdle before potentially climbing to $300.

Each coin’s performance hinges on market sentiment, volume trends, and investor confidence in the weeks ahead.

At the time of reporting, XRP price was $0.887, Solana was $218.32, and Shiba Inu was $0.0000252.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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